In a London courtroom on Friday, October 14, a judge found for Goldman Sachs in a much watched case that pitted that notorious investment bank against late Qaddafi and post-Qaddafi Libya. Here's a Dealbook story on the ruling. Here's the first 120 pages of the decision by Judge Vivien Rose . The roots of the case go back well before the revolution in Libya in 2011, and before the global financial crisis of 2007-08. The roots of it go back to the period 2003-04 when the western industrialized countries began lifting their sanctions against Libya, became willing to buy its oil and accept its money in their banking institution's coffers. In this period, Libya created the Libya Investment Authority (LIA), a sovereign wealth fund. Goldman Sachs was one of many institutions that, in Judge Rose's words, "beat a path to the door" of the LIA with bright ideas as to how it should invest that money, The LIA in this litigation has portrayed itself as a bunch ...
